Specifically, SJC Company currently lists the price of 9999 gold rings at 75.6-77.1 million VND per tael. DOJI Group applies a rate of 75.8-77.15 million VND per tael. Bao Tin Minh Chau lists it at 75.93-77.23 million VND per tael, while PNJ is at 75.75-77.12 million VND per tael.
SJC gold price remains unchanged at 77.5 million VND per tael and 79.5 million VND per tael.
In the international market, gold prices on July 25 (Vietnam time) unexpectedly dropped sharply and fell below the $2,400/ounce mark. The current spot gold price is $2,373/ounce, equivalent to about 73 million VND per tael when converted at the current VND/USD exchange rate.
At a recent press conference of the State Bank of Vietnam, Deputy Governor Dao Minh Tu said that in the past, SJC gold prices were sometimes unreasonably high and significantly deviated from world gold prices. The SBV had organized 9 gold bar auctions but did not achieve the desired effect. Subsequently, the SBV switched to selling gold directly to the people through 4 major banks and SJC Company. This solution initially proved effective, bringing the difference to an appropriate level. “However, this is a short-term solution. In the long run, the SBV and other ministries and branches will have new policies to manage the gold market effectively, based on amending Decree 24, but the issue is how to amend it to ensure flexibility for the economy,” said the Deputy Governor.
Gold prices: SJC gold and plain gold rings surge simultaneously
On the morning of January 31st, the prices of SJC gold and 24k smooth gold rings in Vietnam saw a simultaneous increase compared to the previous day.
